2008-06-02 17:16:31 Bloomberg/CRIENGLISH.com
China Telecommunications Corp., the country's biggest fixed-line phone company, will pay 110 billion yuan ($15.9 billion) for part of China United Telecommunications Corp.'s mobile-phone assets in a government industry revamp.
China Telecommunications will buy China United's code- division multiple access network for 66.2 billion yuan, and will pay 43.8 billion yuan for its subscribers, the fixed-line carrier said in a statement to the Hong Kong stock exchange Monday. Trading of the company's shares, suspended in Hong Kong since May 23, will resume Tuesday, the China Telecom said.
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